Wednesday, February 27, 2013

New Zealand:

New Zealand's Highest Court Allows Mighty River Power Sale (Reuters)


New Zealand's highest court cleared the way on Wednesday for the first partial sale of Mighty River Power Ltd. within months after rejecting a bid by indigenous people to delay any offer until water ownership claims were settled.

Indigenous Maori groups wanted special rights to resources affected by the sales but the Supreme Court said the planned sale would not prevent the government from settling Maori claims to economic or other interests in the water resources.

The decision will allow the New Zealand government to proceed with selling a minority stake in Mighty River Power Ltd. before the middle of the year.

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